The Manufacturers Life Insurance Company Acquires New Shares in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

The Manufacturers Life Insurance Company bought a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,615 shares of the company’s stock, valued at approximately $120,000.

Other large investors have also recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics during the first quarter worth $45,884,000. Janus Henderson Group PLC raised its position in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the period. Millennium Management LLC lifted its holdings in Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Larimar Therapeutics by 174.6% in the 2nd quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after buying an additional 69,858 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $7.76 on Monday. The business has a 50-day simple moving average of $7.32 and a 200 day simple moving average of $7.77. Larimar Therapeutics, Inc. has a one year low of $2.18 and a one year high of $13.68. The firm has a market capitalization of $495.17 million, a price-to-earnings ratio of -6.93 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, sell-side analysts expect that Larimar Therapeutics, Inc. will post -1.38 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. HC Wainwright assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 2nd. They set a “buy” rating and a $15.00 price objective for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Wedbush assumed coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Oppenheimer assumed coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Larimar Therapeutics presently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.